Serbia Industry June 2021

Serbia

Serbia: Industrial output growth ebbs in May

July 30, 2021

Industrial output increased 4.4% year-on-year in June (May: +9.4% yoy). Looking at the details of the release, manufacturing output rose robustly in the month and solely drove the result. Mining and quarrying output as well as the production of electricity, gas, steam and air condition supply contracted. Meanwhile, annual average industrial production growth rose to 6.1% in June (May: +5.9%), signaling an improving trend in the industrial sector.

On a seasonally-adjusted monthly basis, industrial output swung from a 6.5% contraction in May to a 3.0% expansion in June.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.3% in 2021, which is from last month’s estimate. In 2022, the panel sees industrial production rising 3.8%.


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Serbia Industry June 2021

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).


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